Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12250 Lake Shore Dr North East, PA 16428

    Sponsored
    For Sale
    $250,000

    Prime Lake Erie waterfront land.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    Discover exceptional waterfront land opportunities in the prestigious Edgewater Subdivision, nestled on the shores of Lake Erie in North East, Pennsylvania. This fully approved subdivision offers a variety of lots ranging from 0.46 to 1.37 acres, with several boasting stunning water views. Located just off scenic Route 5 and minutes from the New York state line, these properties provide convenient access to the beauty of Lake Erie and the charm of North East's grape country. All lots have access to public water and other utilities. Water view lots are available at $200,000, while other lots are priced at $250,000. The lots are currently unassessed for tax purposes. This is a rare chance to build your dream home in a desirable location with breathtaking views and convenient amenities. Several lots with water views are available, ranging in size from 0.4595 to 0.771 acres. Don't miss this opportunity to own a piece of Lake Erie paradise. Act quickly, as these lots are expected to sell fast.

    Property Features for 12250 Lake Shore Dr

    General Information

    Property type
    Marinas
    Lot Size
    20,038 SF

    We can help!

    Listing Contact
    Greg Rubino
    Greg Rubino

    Learn more

    HighLights

    • Fully approved waterfront lots in prestigious Edgewater Subdivision, Lake Erie, PA.
    • Lots range from 0.46 to 1.37 acres, many with lake views.
    • Convenient location off Route 5, near NY state line & North East's wine region.
    • Public water & utilities available.
    • Water view lots: $200,000; other lots: $250,000.
    • Currently unassessed for taxes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marinas

    Suggested Use

    Hotel & Motel Department Store Food Market Discount Store Car Rental Pet Grooming Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North East
    County
    Erie
    State
    Pennsylvania
    Longitude
    -79.780927
    Latitude
    42.264239

    Nearby Comparable

    • $1,100,000
      23.30 Acres

      Prime Ripley, NY Commercial Land

      23.3 Acres, I-90 Frontage, $1.1M
      0 Shortman Rd, Ripley, NY 14775
      View Details
    • $624,000

      Prime Development Site on Shortman

      13-acre commercial development site with road frontage near I-90.
      6370 Shortman Rd, Ripley, NY 14775
      View Details
    • $199,900
      2.25 Acres

      Commercially Zoned Duplex with Potential

      Rehabbed duplex with commercial zoning and development potential.
      12286 E Main Rd, North East, PA 16428
      View Details
    • $220,000

      Ripley Multifamily Investment Opportunity

      Multifamily property for sale in Ripley, New York.
      5 S State St, Ripley, NY 14775
      View Details
    • $220,000

      Land for Sale

      Commercial land available for sale.
      2 W Main St, Ripley, NY 14775
      View Details
    • $790,000
      11,074 SF

      Historic Estate in Wine Country

      Two historical buildings in the heart of Pennsylvania wine country.
      51-55 E Main St, North East, PA 16428
      View Details
    • $900,000
      11,074 SF

      Historic PA Wine Country Inn

      Charming 2-unit Inn, Redevelopment Potential
      51 Main St, North East, PA 16428
      View Details
    • $1,990,000
      Pending

      Pennsylvania Winery with Event Venue

      Thriving winery with event venue and remodeled residence in wine country.
      10225 Lake Rd, North East, PA 16428
      View Details
    • $1,990,000
      Pending

      Established Winery and Event Venue

      Thriving winery with event venue and remodeled residence in wine country.
      10225 Lake Rd, North East, PA 16428
      View Details
    • $95,000

      Lake Erie Vineyard Lot

      2-acre vineyard lot with lake frontage and views.
      5 Lot 1 Rte, Ripley, NY 14775
      View Details
    • $415,000

      Lake Erie Lakefront Building Lot

      4 acre lakefront building lot with 153 feet frontage.
      East Lake Rd, Westfield, NY 14787
      View Details

    Nearby Similar for Sale

    • $790,000
      11,074 SF

      Historic Estate in Wine Country

      Two historical buildings in the heart of Pennsylvania wine country.
      51-55 E Main St, North East, PA 16428
      View Details
    • $1,990,000
      Pending

      Established Winery and Event Venue

      Thriving winery with event venue and remodeled residence in wine country.
      10225 Lake Rd, North East, PA 16428
      View Details
    • $1,990,000
      Pending

      Pennsylvania Winery with Event Venue

      Thriving winery with event venue and remodeled residence in wine country.
      10225 Lake Rd, North East, PA 16428
      View Details
    • $900,000
      11,074 SF

      Historic PA Wine Country Inn

      Charming 2-unit Inn, Redevelopment Potential
      51 Main St, North East, PA 16428
      View Details

    FAQs

    What type of property is this?
    Marina - Prime Lake Erie waterfront land.
    Where is this marina located?
    The property is located at 12250 Lake Shore Dr North East, PA.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Fully approved waterfront lots in prestigious Edgewater Subdivision, Lake Erie, PA.; Lots range from 0.46 to 1.37 acres, many with lake views.; Convenient location off Route 5, near NY state line & North East's wine region.
    Request Owner's contact information
    12250 Lake Shore Dr North East, PA 16428
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12250 Lake Shore Dr
    North East, PA 16428
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12250 Lake Shore Dr North East, PA 16428
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Greg Rubino
    Greg Rubino
    Real Estate License ID: PA RS142766A
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.